Bubblemaps’ blockchain analytics platform said 90 newly-funded wallets purchased 90% of Mystery Memecoin Supply (MYSTERY). This raises concerns about coordinated sniping.
Wallets funded all wallets “0x544E,” Previously, the wallet cluster withdrew 20 Ether and distributed them to Binance. Bubblemaps stated that the wallet cluster, which had purchased 90% of the token supply upon launch, sold approximately $100,000 in tokens, and still has 40%, despite having bought up 90% at the time of launch. post. This pattern was described by the analytics company as “textbook scam.”
Sniping is the use of bots and automated trading tools in order to purchase newly released tokens as soon as trading begins, usually before regular traders have a chance to react. These findings show how coordinated wallet clusters and automated trading can be used to dominate memecoin launches that are thinly traded, leaving late buyers at risk of steep losses should early holders decide to sell.
The idea behind a fair launch is to allow all users to have an equal opportunity to purchase a coin when the trading begins, with no insiders or wallet clusters controlling early supply. Bubblemaps flagged a concentration that would violate this principle, if all wallets acted in concert.
Source: Bubblemaps
Mystic tokens down by 75% on peak
Dexscreener reported that on April 28 the Mystery token had a total market capitalization of $7.4 million, before it fell by around 75% and was now valued at $1.9 million. data shows.
Mystery/WETH, all-time chart. Source: Dexscreener
This memecoin is a quirky frog from Matt Furie’s “The Night Riders” According to a report published on Monday, and has claimed to have purchased the HEDZ NFT official and IP rights related to it from Furie. post.
Cointelegraph couldn’t reach Mystery for a response.
Related: Kaiko flags possible front-running before Robinhood token listings
The memecoin community has long struggled with the issue of value extraction through sniping.
A. In February 2025. cryptocurrency sniper made Zhangpeng Zhao, former CEO and co-founder of Binance, announced that his Belgian Malinois had been named Broccoli. “Broccoli,” Launchpad Pump.fun is a community driven platform that has sparked a new wave of memecoin listings.
In November 2025, Bubblemaps claimed A cluster of 160 wallets accumulated 30 percent of the decentralized lending protocol Edel Finance (EDEL), token supply, at launch. This is worth more than $11 million. James Sherborne (co-founder of Edel Finance) denied these claims, and claimed that his team had planned to obtain 60% of the token stock.
Magazine: Bitcoiners eye ‘sell in May,’ SBF’s bid for new trial shut down: Hodler’s Digest, April 26 – May 2
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Source: cointelegraph.com
